PZU insurer files binding bid for Croatian peer Osiguranje
December 17, 2013
Poland's top insurer PZU and a Croatian tobacco & tourism group Adris filed binding bids on the Croatian state insurer Croatia Osiguranje, the Croatian Finance Ministry said on its website.
PZU is allegedly bidding on a 51.5% stake or 158,174 shares of Croatian insurer Croatia Osiguranje (CO) at EUR 900.9 per share and additionally offers a EUR 50 million capital increase of the company, according to the October information from the Croatian government.
PZU's rival in the bid, Adris, is said to be bidding on 132,267 shares or a 43% stake, offering EUR 790.27 per share plus EUR 130 million capital injection.